As the dust settles on the surprise release of The Cloverfield Paradox on Netflix, we are beginning to learn more and more about the inner workings of the Paramount franchise and where it will go from here. While the sale of the third Cloverfield film to Netflix’s streaming platform provided the studio with some much-needed instant revenue, it is being reported that the franchise will continue in cinemas.
The Hollywood Reporter‘s sources say that Netflix paid Paramount more than $50 million for the rights to stream The Cloverfield Paradox. Negotiations reportedly began over the holidays and were finalized in January in time for the major Super Bowl stunt we all witnessed on Sunday. The sale means that Paramount likely thought they couldn’t earn at least $50 million at the domestic box office, and the movie’s low critical reviews and mixed fan reaction suggests they probably made the right choice to sell the movie. The studio still plans to bring the movie to China, so it will be interesting to see how The Cloverfield Paradox performs on an open market.